Construction Loan Draw Specialist

Waterford Bank; Toledo (OH); On-site; USD 65,000 - 85,000; Full time

Job summary

Waterford Bank is seeking a Construction Loan Administration Specialist to oversee draw activity for construction projects. The role reviews draw requests and supporting documents, verifies budgets and insurance, and ensures timely disbursements in line with loan documents and bank controls.

Responsibilities include tracking budgets, reconciling draws, coordinating with borrowers and lenders, and maintaining complete records for audit readiness.

Qualifications

• Experience in banking or construction loan administration preferred.
• Strong attention to detail and accuracy in processing loan documentation.

Responsibilities

• Manage construction loan draw activity from receipt through disbursement preparation.
• Review draw requests, invoices, lien waivers, sworn statements and supporting docs for completeness and accuracy.
• Confirm borrower equity, funding order, and required insurance before funds are advanced.
• Track budgets, changes, costs, loan balances, retainage and reserves during construction.
• Reconcile draws to prior disbursements and ensure funds align with loan terms and project progress.
• Escalate concerns before disbursement and document exceptions.
• Coordinate with borrowers, lenders, contractors, inspectors and internal teams for timely updates.
• Prepare draw documentation and disbursement instructions per policies and controls.
• Maintain audit-ready records in loan systems and tracking tools.
• Assist with final draws, lien releases, and project closeout.

Skills

Banking experience

Education

Associate or Bachelor's in business, finance, accounting, construction management, real estate or related field

Job description

Waterford Bank is seeking a Construction Loan Administration Specialist to oversee draw activity for construction projects. The role reviews draw requests and supporting documents, verifies budgets and insurance, and ensures timely disbursements in line with loan documents and bank controls.

Responsibilities include tracking budgets, reconciling draws, coordinating with borrowers and lenders, and maintaining complete records for audit readiness.